Medical Devices Acquisitions in 2022

Zeon Corporation, through its U.S. subsidiary Zeon Specialty Materials Inc., purchased 100% of Edge Precision Manufacturing, Inc., a Massachusetts-based manufacturer of micro‑featured thermoplastic disposables, on December 28, 2022. The acquisition strengthens Zeon's cyclo olefin polymer (COP) offering for microfluidic and diagnostic devices by combining Zeon's materials with Edge's precision compression‑molding capabilities and customer network.

Johnson & Johnson completed its acquisition of Abiomed on December 22, 2022, acquiring all outstanding shares for $380.00 per share (approximately $16.6 billion enterprise value) plus a contingent value right. Abiomed will operate as a standalone business within Johnson & Johnson's MedTech segment, expanding J&J's capabilities in high-growth cardiovascular and heart-recovery solutions.

Olympus Corporation has signed a definitive agreement to acquire London-based Odin Vision, a cloud-AI endoscopy company, for up to GBP 66 million in upfront and milestone payments. The purchase is part of Olympus' broader digital strategy to integrate AI-driven detection, diagnostics, and cloud-enabled workflow solutions into its Digital Endosuite to improve clinical decision-making and patient outcomes.

Applied UV, Inc. (NASDAQ:AUVI) entered into definitive agreements to acquire PURO Lighting, LLC and LED Supply Co. in a combined transaction valued at approximately $20 million (cash and restricted shares). The deals would roughly double Applied UV's size—adding an estimated $18 million of revenue—and expand its distribution, sales capabilities and access to PURO's strategic relationships (including Acuity Brands) for FDA‑cleared disinfection products.

5th Century Partners has made a majority investment in LSL Healthcare, a U.S.-based manufacturer of single-use medical devices, IV start kits, surgical procedure kits and hospital supplies. As part of the transaction, new CEO Victor Bridgeman and CFO Colleen Mocko joined LSL's leadership while founder Ash Luthra moves to an advisory role; Kayne Anderson provided debt financing and Kroll served as sell-side advisor.

Veranex has acquired Fusion Biotec, a Southern California design and engineering firm specializing in complex electro-mechanical diagnostic instrumentation and medical devices. The acquisition brings Fusion's 15,000-square-foot facility and 45+ engineering staff into Veranex's Product Design & Engineering capabilities, expanding Veranex's diagnostic/IVD development, software/firmware reuse and Southern California footprint; financial terms were not disclosed.

Altaris has completed the combination of its portfolio companies Kindeva Drug Delivery and Meridian Medical Technologies into a single, global drug‑device CDMO that will operate under the Kindeva name. The combined company expands capabilities across parenteral, inhalation, transdermal and intradermal delivery formats; Milton Boyer (formerly Meridian CEO) will lead the combined business.

CPS Fluidics, a Wallingford, Connecticut-based contract manufacturer focused on microfluidics for the life sciences, has acquired Hexano Corp, a microfluidic cartridge manufacturer founded in 2018. The acquisition brings Hexano founder Andre Babineau into CPS Fluidics as VP of Sales and is intended to expand CPS Fluidics' manufacturing, prototyping capabilities and domestic and international market reach.

Pion Inc., a provider of analytical instruments for drug development and backed by SFW Capital, has acquired Two Square Science, a Fall River, Massachusetts company that designs sample preparation and lab monitoring equipment. The acquisition adds Two Square's PrepEngine and LabEye technologies to Pion's product portfolio to expand in vitro sample preparation and remote monitoring capabilities and accelerate customers' drug development workflows.

EQT Future, ATHOS and other co-investors have acquired a minority stake in SHL Medical from EQT's Equity fund VIII, with founder Roger Samuelsson remaining the majority shareholder. The consortium will support SHL Medical's next growth phase — expanding production into the United States and Europe, launching new product platforms, and advancing sustainability and circularity initiatives.

GCX Mounting Solutions, a portfolio company of Audax Private Equity, has acquired Jaco, Inc., a Franklin, Massachusetts-based manufacturer of point-of-care IT workstations and powered carts. The add-on acquisition expands GCX's medical mounting and OEM manufacturing capabilities—adding Jaco's battery-powered EVO Series mobile carts and complementary commercial and manufacturing competencies; financial terms were not disclosed.

Align Capital Partners has completed a recapitalization of Premier Biotech, a Minneapolis-based provider of point-of-care drugs of abuse testing devices and accredited laboratory services. Cascadia Capital served as exclusive financial advisor; Align will partner with management to scale the business, accelerate product development and expand the company's reach across workplace, government and clinical end markets.

SteriPack Group acquired Kinneir Dufort, a Bristol-based user-centered design and product development consultancy, to expand its medical device design, development and human factors capabilities. The acquisition creates a European R&D Centre of Excellence and broadens SteriPack's integrated design-to-manufacture offering for medical device, diagnostic and pharmaceutical customers.

Pion Inc. has acquired BEE International, adding high-pressure homogenization and emulsification equipment to Pion’s portfolio of formulation and analytical tools for biopharmaceutical development. BEE International will operate as an independent business unit and continue supporting customers from its South Easton, Massachusetts headquarters.

Integra LifeSciences agreed to acquire Surgical Innovation Associates (SIA), the developer of DuraSorb, a resorbable synthetic matrix for plastic and reconstructive (including implant-based breast) surgery. Integra will pay $50 million at closing with up to $90 million in contingent consideration to support its expansion into breast reconstruction and strengthen its soft tissue reconstruction portfolio.

ARCH Medical Solutions has acquired Nicholas Precision Works, a North Manchester, Indiana-based contract manufacturer specializing in precision grinding for surgical cutting tools and precision ground instruments. The acquisition will combine NPW with ARCH's OrthoGrind facility to form a new ARCH Medical Grinding business unit, expanding ARCH's precision grinding capabilities for medical OEMs.

Vance Street Capital has completed the acquisition of Innovize, LLC, with Innovize joining Excel Scientific LLC (a platform Vance Street partnered with in 2020) to create a medical and life sciences manufacturing platform. The deal brings complementary materials-conversion and complex manufacturing capabilities for diagnostics, wearables and other MedTech end markets; Innovize's founders John Ledy and Dave Jessen will continue to support the business.

CAIRE Inc., a subsidiary of NGK Spark Plug Co., Ltd., acquired St. Paul–based MGC Diagnostics (MGC), a global maker of non-invasive cardiorespiratory diagnostic systems. The transaction closed on December 28, 2022 and expands CAIRE's clinical diagnostic capabilities and global distribution for pulmonary diagnostic devices, adding MGC's product portfolio and international facilities to CAIRE's offerings.

Patient Square Capital became the majority equity owner of Eargo, Inc. after converting its senior secured convertible notes and participating in Eargo’s rights offering. The transaction leaves Eargo debt-free, gives Patient Square approximately 76.3% of outstanding common stock, and raises roughly $32.3 million of net proceeds to support working capital and the company’s omni-channel growth strategy.

Medeologix, a Taiwan-based MedTech CDMO, acquired three Silicon Valley contract manufacturers — Mediballoon, MedeonBio and Second Source Medical — to create an integrated end-to-end medical device development and manufacturing group. The combined organization brings together tubing extrusion, balloon forming, catheter processing, assembly, packaging and regulatory support, and links U.S. development centers with Medeologix's mass-production facility in Taiwan to support scale-up and commercialization.

ARCH Medical Solutions, a Jordan Company platform, has acquired Alpha Manufacturing & Design of Warsaw, Indiana. The acquisition adds ISO 13485-certified contract manufacturing capabilities for complex surgical devices (spine, trauma, large joint and dental) to ARCH’s precision medical-device manufacturing platform, strengthening its orthopedics and surgical instruments offering and geographically co-locating capacity with OEM customers.

CardieX Limited (ASX: CDX) acquired the assets of Silicon Valley–based Blumio, Inc., bringing Blumio's cardiovascular wearable sensor algorithms and data analytics into CardieX's CONNEQT and ATCOR product ecosystem. Blumio's CEO Catherine Liao and Head of Product Steve Braaten joined CardieX as part of the transaction; financial terms were not disclosed.

Bruker Corporation has signed a definitive agreement to acquire 100% of Neurescence Inc., a Toronto-based developer of ultralight fiber‑bundle Multiscopes (Chromatone) for multi-region optical functional neuroimaging. The acquisition strengthens Bruker's preclinical neuroscience imaging capabilities and complements its existing Ultima multiphoton solutions and recently acquired Inscopix products; financial terms were not disclosed.

Advancing Eyecare (AEC), a PE-backed eyecare instrumentation platform, has acquired Veatch Ophthalmic Instruments, a Tempe, Arizona-based distributor of ophthalmic equipment. Financial terms were not disclosed; the deal expands AEC's national footprint and product/service offerings to independent eye care practitioners, national chains, hospitals and teaching institutions.

Montreal-based ELNA Medical has acquired m-Health Solutions, a Canadian provider of wearable ECG (Holter) devices and cloud-based remote cardiac monitoring and reporting services. National Bank Private Equity provided financing support for the transaction; CIBC Mid-Market Investment Banking acted as exclusive financial advisor to m-Health Solutions.

Molded Devices, Inc. (MDI), majority‑owned by TruArc Partners, acquired GlobalMed Inc. (Canada) and Schauenburg‑Truplast (China) from Schauenburg Hose Technology. The deal expands MDI’s extrusion and tubing capabilities for medical device OEMs, adding GlobalMed’s Canadian and Chinese production footprint and management team to MDI’s global manufacturing platform. Financial terms were not disclosed.

Bruker Corporation has acquired Inscopix, Inc., a Mountain View–based developer of miniaturized head-mounted microscopes (miniscopes) for freely moving animal brain imaging. The acquisition integrates Inscopix’s miniscope platform and analysis pipeline with Bruker’s preclinical imaging and multiphoton microscopy capabilities to expand Bruker’s in-vivo neural functional imaging offerings; financial terms were not disclosed.

Anumana, an AI-driven health technology company and portfolio company of nference and Mayo Clinic Platform, has acquired NeuTrace and its EP Data Biome platform along with a pipeline of AI-enabled electrophysiology (EP) applications. nference also obtained rights to the Data Biome platform for non-cardiovascular uses, positioning Anumana to expand its in‑procedure AI capabilities and product development across cardiac electrophysiology.

AEA Investors' Small Business Private Equity (AEA SBPE) has closed the acquisition of Rees Scientific, Inc., with rollover investment from the company's employees. Rees Scientific, headquartered in Trenton, New Jersey, provides automated environmental monitoring systems and a differentiated service network serving biopharma, biotech, hospitals, blood banks, academic and CRO customers.

Solesis, an operating company backed by Altaris, has acquired Polyzen, a contract developer and manufacturer of polymer-based films, coatings, components and assemblies for the medical device and biopharmaceutical markets. Polyzen will operate as a subsidiary of Solesis, expanding Solesis' polymer film and coating capabilities to better serve medical device, bioprocessing, drug delivery and cell and gene therapy customers.

Calibre Scientific acquired Elkay Laboratory Products, a Basingstoke, United Kingdom-based distributor of laboratory consumables, instruments and services. The deal expands Calibre Scientific's presence in the UK and adds a scalable distribution operation and complementary product and service capabilities to its life-science supplies portfolio.

GTCR has made a strategic, majority recapitalization investment in Biocoat Holdings, LLC, a Horsham, Pennsylvania-based provider of biocompatible hydrophilic coatings and dip-coating equipment for medical devices. Existing investor 1315 Capital and Biocoat management retain minority stakes; GTCR will partner with CEO Jim Moran and add industry veteran Chip Hance as Executive Chairman to support growth, capability expansion and follow-on acquisitions.

Thermo Fisher Scientific has entered into a definitive agreement to acquire The Binding Site Group from a shareholder group led by Nordic Capital for £2.25 billion (about $2.6 billion). The Binding Site, a Birmingham-based specialist in protein and blood-cancer diagnostics with more than 1,100 employees and ~10% annual revenue growth, will join Thermo Fisher's Specialty Diagnostics segment to expand its capabilities in cancer diagnostics and monitoring.

The Erbe Group has acquired the shares held by healthcare investor SHS in Blazejewski MEDI-TECH GmbH, a Baden-based OEM developer and manufacturer of 2D and 3D chip-on-the-tip endoscopes. SHS had held a minority stake since 2020 and supported the company's international expansion and product development; Erbe expects to combine its electrosurgery expertise with Blazejewski's endoscopy technologies to drive integrated "see and treat" solutions and further growth.

Charme Capital Partners (through its Charme IV fund) will acquire a majority stake in Tema Sinergie S.p.A., an Italian manufacturer of isolators and filling/inspection systems for nuclear medicine and biotech pharmaceutical production. The investment will support Tema Sinergie's international expansion, product innovation and growth in theragnostic and biotech segments while preserving management continuity under CEO Stefano Piancastelli.

Geistlich Pharma North America, Inc. has acquired Lynch Biologics, LLC, the developer and sole provider of GEM 21S, to strengthen Geistlich's regenerative dentistry product portfolio and expand capabilities in oral regenerative surgery. Dr. Sam Lynch will continue to support customers and training efforts following the integration; pH Partners served as exclusive financial advisor to Lynch Biologics.

Aspen Surgical Products, a portfolio company of Audax Private Equity, has acquired Symmetry Surgical from RoundTable Healthcare Partners. The add-on acquisition (terms not disclosed) expands Aspen's portfolio with Symmetry's surgical instrument, electrosurgery and minimally invasive device brands and adds direct-sales capabilities across acute and non-acute care settings.

CIVCO Radiotherapy announced it is joining forces with Qfix, a maker of patient positioning and immobilization devices for radiotherapy. The integration is intended to combine product portfolios, manufacturing capabilities and R&D to accelerate innovation, improve customer service and deliver enhanced radiotherapy products.

EW Healthcare Partners has acquired Germfree Laboratories, Inc., a US manufacturer of turnkey, mobile and modular cleanrooms, biocontainment facilities, and related biosafety equipment and services. The investment will support Germfree’s growth into advanced therapy manufacturing (cell and gene therapy) and help scale its manufacturing capacity from its Ormond Beach, Florida facility with nearly 200 employees.

Cordis, the interventional cardiovascular device company, announced the acquisition of Switzerland-based MedAlliance, developer of the SELUTION SLR sirolimus drug‑eluting balloon. The deal includes an initial $35M investment, $200M payable at closing (expected 2023), plus up to $125M in regulatory milestones and up to $775M in commercial milestones through 2029; Cordis will begin co-promotion of SELUTION SLR in markets where it is available.

Tivic Health Systems, Inc. (Nasdaq: TIVC) entered a definitive agreement to acquire the Reliefband product line and related assets from Reliefband Technologies, LLC for up to $33.5 million (with up to $1.5 million payable in Tivic restricted common stock). The deal adds FDA-cleared, wearable electronic therapeutics to Tivic’s direct-to-consumer and prescription product portfolio to accelerate revenue growth and expand its bioelectronic medicine offerings.

ESAB Corporation (NYSE: ESAB) acquired Ohio Medical, LLC, a manufacturer of oxygen regulators and central gas systems, for $127 million in cash. The acquisition, purchased from a private investor group led by Tenex Capital Management, expands ESAB's medical gas control portfolio and is expected to be EPS accretive in the first year while providing cross-selling and global expansion opportunities.

Burke Porter Group (BPG) has acquired D&K Engineering, an end-to-end product design and contract manufacturing services provider serving medical and life sciences and other advanced technology industries. The acquisition expands BPG’s life sciences engineering and manufacturing capabilities and extends its footprint into Southern California; D&K founders will remain with the business to support integration and growth.

Los Angeles-based private equity firm Vance Street Capital acquired Mountain Manufacturing Technologies, a Lino Lakes, Minnesota contract manufacturer of precision mandrels and machined components for medical devices. The deal will complement Vance Street's existing portfolio company Wytech Industries by expanding mandrel capabilities and supporting growth in interventional and advanced surgical markets.

DirectMed Parts & Service, a portfolio company of NMS Capital, has acquired ScanMed LLC, an Omaha-based designer, manufacturer and repairer of OEM-certified MRI coils. The add-on deal expands DirectMed's MRI coil manufacturing and repair capabilities and supports ScanMed's planned expansion into Europe via DirectMed's Danish subsidiary LBN Medical.

Nordic Capital has made a significant minority investment in Equashield to support the company's next phase of growth and global expansion. The partnership will help Equashield commercialize its automated compounding systems and scale its closed system transfer device (CSTD) business across healthcare markets.

Collagen Matrix, a Linden Capital Partners portfolio company, has acquired Polyganics B.V., a Netherlands-based developer and manufacturer of bioresorbable medical devices. The add-on acquisition expands Collagen Matrix's regenerative medicine and polymer capabilities, entering new clinical verticals such as ENT and general surgery and broadening its neurosurgery and peripheral nerve offerings.

NAMSA, a global MedTech CRO headquartered in Toledo, Ohio, has acquired Perfectus Biomed Group, a UK-based microbiological testing laboratory headquartered in Cheshire. The acquisition expands NAMSA's European laboratory services and deepens its microbiological testing and biofilm expertise to better support medical device clients; terms were not disclosed.

Halma plc has acquired IZI Medical Products, an interventional radiology medical device manufacturer and distributor, from Shore Capital Partners. The deal — which closed on September 30, 2022 — brings IZI's consumable device portfolio and hospital customer base into Halma's healthcare group to expand capabilities, R&D and international growth opportunities.

Seaway Plastics Engineering, a PE-backed injection-molded components manufacturer, has acquired MME Group, a St. Paul-based contract manufacturer specializing in injection molding, tooling and assembly for FDA-regulated medical and other highly engineered products. The deal, finalized September 30, 2022, expands Seaway's geographic footprint and capabilities and advances its growth strategy under its sponsor, ICG's North American Direct Private Equity team.